Kweku Adoboli today told a London court that nobody was willing to "stand up to the machine" and support him in his defence against charges of fraud and false accounting.

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"There is a huge difference between what actually happens at a bank, and what is stated," said Adoboli, who was giving evidence for a fourth day today.

The former UBS trader is accused of losing the Swiss bank $2.3bn from unauthorised trading last year. He is standing trial at Southwark Crown Court on two counts of fraud and four of false accounting. Adoboli denies all the charges.

Sasha Wass QC, prosecuting, told Adoboli, that not one of the witnesses called to give evidence for the prosecution so far in the case had accepted his argument that he had traded the way he did "for the benefit of the bank".

Adoboli replied that people, including former UBS staff, had been in contact to say that they would have liked to support his case, adding: "Across the industry, there is nobody who is willing to stand up against the machine."

Breaking down during his testimony this morning, Adoboli told the court the "only truth" in the case so far was what was contained in the chat communications that have been read out in court as evidence during proceedings. He said the only truth was "written down in black and white".

Wass asked if Adoboli agreed that none of the prosecution witnesses had agreed with his argument that he traded "for the good of the bank". Adoboli said: "Perhaps they are frightened they might have to stand here next to me." Gesturing towards those in court, including representatives of UBS, who were following proceedings, Adoboli added: "You can see the size of the machine."

That exchange between Wass and Adoboli came after he had earlier today admitted responsibility for the loss-making trades, concealing them and lying to UBS staff about them.

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Adoboli told the court: "It was not necessary to implicate those people and bring down their careers. I took the responsibility. My sole aim was to recoup those losses. If I had told them the true nature of the losses, we would not have been able to recoup the losses."

During court proceedings yesterday afternoon, Wass asked Adoboli under cross-examination if he had lied to a back-office accountant between July and September last year about the true nature of his trading activities. Adoboli replied: “Yes I did.”

He told the court that his reason for doing this was "in order to buy time to make the situation better”.

The jury heard that the former trader had been quizzed about the nature of his trades throughout July, August and September 2011 by UBS back-office accountant William Steward. Adoboli said: “Had I told Steward about the real nature of those trades, I would not have been able to make the situation better.”

Yesterday, under questioning from defence barrister Paul Garlick QC, Adoboli told the court he had lost track of his trading positions after finding himself“burnt out” and “in a mess”.

-- write to Vivek Ahuja at vivek.ahuja@dowjones.com and Richard Partington at richard.partington@dowjones.com